SUBJECT/RECOMMENDATION:
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Approve the following request of employees Dale Fitzpatrick, Solid Waste General Services Department, Debora Kendall, Parks and Recreation Department, Elaine V. Lewis, Police Department, Margarita Lyons, Library Department, and Julia Tynefield, Parks and Recreation Department for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan.
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SUMMARY:
Dale Fitzpatrick, Building and Maintenance Supervisor, Solid Waste General Services Department, was employed by the City on October 19, 1987, and his pension service credit is effective on that date. His pension will be effective August 1, 2016. Based on an average salary of approximately $61,612.21 over the past five years, the formula for computing regular pensions and Mr. Fitzpatrick’s selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $44,347.56 annually.
Debora Kendall, Parks Service Tech III, Parks and Recreation Department, was employed by the City on February 8, 1988, and her pension service credit is effective on that date. Her pension will be effective October 1, 2016. Based on an average salary of approximately $46,941.86 over the past five years, the formula for computing regular pensions and Ms. Kendall’s selection of the Life Annuity, this pension benefit will be approximately $36,923.40 annually.
Elaine V. Lewis, Police Office Specialist, Police Department, was employed by the City on March 1, 1999, and her pension service credit is effective October 7, 2002. Her pension will be effective October 1, 2016. Based on an average salary of approximately $40,724.81 over the past five years, the formula for computing regular pensions and Ms. Lewis’ selection of the Life Annuity, this pension benefit will be approximately $15,660.36 annually.
Margarita Lyons, Library Assistant, Library Department, was employed by the City on October 17, 1994, and her pension service credit is effective on that date. Her pension will be effective October 1, 2016. Based on an average salary of approximately $34,897.73 over the past five years, the formula for computing regular pensions and Ms. Lyons’ selection of the 50% Joint and Survivor Annuity, this pension benefit will be approximately $22,256.04 annually.
Julia Tynefield, Personnel/Payroll Technician, Parks and Recreation Department, was employed by the City on January 16, 2001, and her pension service credit is effective on that date. Her pension will be effective October 1, 2016. Based on an average salary of approximately $31,423.84 over the past five years, the formula for computing regular pensions and Ms. Tynefield’s selection of the Life Annuity, this pension benefit will be approximately $13,557.72 annually.
Section 2.416 provides for normal retirement eligibility for non-hazardous duty employees hired prior to the effective date of this reinstatement (January 1, 2013), a member shall be eligible for retirement following the earlier of the date on which a participant has reached the age of fifty-five years and completed twenty years of credited service; the date on which a participant has reached age sixty-five years and completed ten years of credited service; or the date on which a member has completed thirty years of service regardless of age. For non-hazardous duty employees hired on or after the effective date of this restatement, a member shall be eligible for retirement following the earlier of the date on which a participant has reached the age of sixty years and completed twenty-five years of credited service; or the date on which a participant has reached the age of sixty-five years and completed ten years of credited service. Mr. Fitzpatrick, Ms. Kendall, Ms. Lewis, Ms. Lyons and Ms. Tynefield have met the non-hazardous duty criteria.
Section 2.416 provides for normal retirement eligibility for hazardous duty employees, a member shall be eligible for retirement following the earlier of the date on which the participant has completed twenty years of credited service regardless of age, or the date on which the participant has reached fifty-five years and completed ten years of credited service.
APPROPRIATION CODE AND AMOUNT:
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USE OF RESERVE FUNDS:
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